P - Definitions

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  • P

    pick to light

    Pick to light is order fulfillment technology that employs alphanumeric displays and buttons at storage locations to guide the manual picking and recording of items for shipment.

  • poka-yoke

    A poka-yoke is a mechanism that is put in place to prevent human error.

  • process manufacturing

    Process manufacturing is a production method in which goods are created by combining supplies, ingredients or raw materials using a predetermined formula or recipe.

  • product data management (PDM)

    Product data management (PDM) is the process of capturing and managing the electronic information related to a product so it can be reused in business processes such as design, production, distribution and marketing.

  • profit and loss statement (P&L)

    A profit and loss statement (P&L), also called an income statement or statement of operations, is a financial report that shows a company's revenues, expenses and net profit or loss over a given period of time.

  • prototype

    A prototype is an early version of a product from which future versions are developed.

  • What is procure-to-pay (P2P)?

    Procure-to-pay (P2P), also known as purchase-to-pay, is the process organizations use to obtain essential resources.

  • What is product as a service?

    Product as a service (PaaS) is the concept of selling the services and outcomes a product can provide rather than the product itself.

  • What is production planning and why is it important?

    Production planning is the act of developing a guide for the design and production of a given product or service.